Comments after EU leaders' summit

May 23, 2012|Reuters

"There were some proposals where there is already a consensus, namely project bonds, recapitalizing the EIB, on mobilizing EU structural funds, reorientating the budget, but I proposed that we go further. Notably on the idea that the European project should be more targeted to new technologies, in renewable energy and industrial projects."

ON SITUATION IN GREECE:

"What would happen if a new government formed after the Greek election refuses the memorandum and does not respect the goals? I think the euro zone's attitude would be to ask it to strictly respect its commitments."

"On Greece, a text was adopted on having Greece stay in the euro zone, provided that it respect its commitments."

"I am not aware of any simulation of a Greek exit from the euro and France is not working under that hypothesis."

"EU structural funds should be used to help restore Greek growth."

ON USING JOINT EURO BONDS:

"I was not alone in defending euro bonds."

"For now, Germany's line of thinking is that euro bonds, if I give the most optimistic version, could only be an end point, whereas for us they are a starting point. It's true that there is there a difference.

"I respect Mrs Merkel's point of view when she says euro bonds are not an instrument of growth in themselves. So the discussions will continue. There was not a conflict or a confrontation. Everybody gave their opinion and there were others that were much more strongly against (euro bonds) than Mrs Merkel."

Following are earlier comments ahead of the talks:

DUTCH PRIME MINISTER MARK RUTTE

ON JOINT EURO BONDS:

"Euro bonds (are) not something we are in favor of, they would increase our borrowing costs."

ON GROWTH AND AUSTERITY:

"We are talking about growth and we've put ideas forward, but you can't slacken your budgetary efforts because people will lose trust."

SWEDISH PRIME MINISTER FREDRIK REINFELDT

ON EURO ZONE ECONOMY:

"The euro zone is moving in the right direction. You can actually see the former huge deficits now shrinking, even though it needs to go further."

ON EURO ZONE BONDS:

"I am very skeptical about euro bonds, because I think it is wrong, (at) both ends. It creates an atmosphere where the good behavior (is) punished and the ones that should do more will get some relief."

FINNISH PRIME MINISTER JYRKI KATAINEN

ON EURO ZONE BONDS:

"I don't support euro bonds.

"Too many countries have got too many loans for too low a price for too long.

"Euro bonds would institutionalize this problem and that's why we are not interested.

"Everybody understands euro bonds (would) take a long time to launch."

ON GROWTH AND AUSTERITY:

"Growth has been on the agenda for years.

"I think that we should talk about growsterity, which means austerity measures to really change confidence and at the same time to have measures to strengthen growth.

"For instance, lowering some taxes and doing some structural reforms, especially in the labor market."

BELGIAN PRIME MINISTER ELIO DI RUPO

ON A STRATEGY OF GROWTH:

"Ever since I came to the European summit in December, I have been asking for a strategy of growth and stimulus. Today a number of countries support this idea, in particular France and in particular President (Francois) Hollande."

"We can do something for businesses. The financial transactions tax, euro zone bonds, euro-projects - we have to give hope back to people. I would say that in the conditions today, it would be appropriate to have a strategy of growth and stimulus.

"We can't consider any more that the European Union stays just in the dimension of austerity. In Belgium, we want to be rigorous with the budget, but we also need a stimulus program."

GERMAN CHANCELLOR ANGELA MERKEL

ON STEPS TO ACHIEVE GROWTH:

"(Today) it's about having an exchange about how we prepare for the summit at the end of June and complete what we have discussed at previous summits, namely to work out growth perspectives for the European Union and the euro zone.

"For us, it's about deepening the internal market. I will propose that the mobility of labor market be improved. In some countries workers are sought, in other countries there is high unemployment, particularly for young people.

"Thirdly it's about strengthening the role of the European Investment Bank."

"Nothing will be decided today. It's an exchange of opinions and then a final agenda at the end of June."

ON JOINT EURO ZONE BONDS:

"I do not think they would be a contribution to promoting growth in the euro zone as the very similar interest rates that we had for many years led to serious, misjudged developments."

BRITISH PRIME MINISTER DAVID CAMERON

ON SITUATION IN GREECE AND WIDER EURO ZONE:

"Of course this is an important meeting for Britain because what happens in the euro zone affects our country and of course we need a decisive plan for Greece and a decisive plan to get the European economies moving.